Consolidated Water Co. reports rise in Q4 profit
Shares of Consolidated Water Co. Ltd. (Nasdaq: CWCO) are rising on news before the start of trading that the maker of seawater desalination plants and water distribution systems nearly tripled its fourth-quarter profit. The Cayman Islands-based company reported that its net income for the three months ended Dec. 31, 2007, was $2.7 million, or $0.18 per share, an increase of 296% compared with net income of $0.67 million, or $0.05 per share, a year earlier.
At 12:40 p.m. ET, the stock had advanced $5.25, or 29%, to $23.25. For detailed price information and recent news stories about Consolidated Water Co., click CWCO.
